Barclays PLC Purchases 578,839 Shares of Rambus, Inc. $RMBS

Barclays PLC boosted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 183.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894,906 shares of the semiconductor company’s stock after buying an additional 578,839 shares during the period. Barclays PLC owned about 0.83% of Rambus worth $93,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMBS. Farther Finance Advisors LLC raised its position in Rambus by 19.0% in the third quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 167 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Rambus by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock valued at $907,000 after purchasing an additional 187 shares in the last quarter. CI Investments Inc. boosted its stake in shares of Rambus by 39.5% in the 3rd quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 187 shares in the last quarter. Campbell Newman Asset Management Inc. grew its holdings in shares of Rambus by 0.5% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 41,851 shares of the semiconductor company’s stock worth $4,361,000 after purchasing an additional 188 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its position in shares of Rambus by 0.9% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 22,400 shares of the semiconductor company’s stock worth $2,334,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the sale, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 39,914 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the sale, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at $32,653,434.10. This represents a 10.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RMBS. Susquehanna cut their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price objective on shares of Rambus in a report on Tuesday, February 3rd. Evercore cut their target price on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. William Blair started coverage on Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Finally, Zacks Research upgraded Rambus to a “hold” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $105.71.

Rambus Price Performance

RMBS opened at $88.12 on Monday. Rambus, Inc. has a one year low of $40.12 and a one year high of $135.75. The company’s 50 day simple moving average is $102.39 and its 200-day simple moving average is $97.47. The stock has a market capitalization of $9.50 billion, a P/E ratio of 41.76 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. As a group, analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

Rambus Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.